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Sunday, July 4, 2010

What is insurance

What is insurance? Life Insurance is the key to good financial
planning. On one hand, it safeguards your money and on the other,
ensures its growth, thus providing you with complete financial well
being. Life Insurance can be termed as an agreement between the policy
owner and the insurer, where the insurer for a consideration agrees to
pay a sum of money upon the occurrence of the insured individual's or
individuals' death or other event, such as terminal illness, critical
illness or maturity of the policy. Life insurance plans, unlike mutual
funds, are beneficial when you look at them as a long term avenue of
investment which also offers protection through life cover. Life
insurance policies are broadly categorized into 2 types; Traditional
Plans and Unit Linked Insurance Plans (ULIPs). Traditional
policies offer in-built guarantees and define maturity benefits
through variety of products such as guaranteed maturity value. The
investment risk in traditional life insurance policies is borne by
life insurance companies. Additionally, the investment decisions are
regulated to a large extent by IRDA rules and regulations, ensuring
stable returns with minimal risk. Investment income is distributed
amongst the policy holders through annual bonus. These policies are
ideal for policy holders who are not market savvy and do not wish to
take investment risks.ULIPs, on the other hand provide a combination
of risk cover and investment. More importantly they offer a
flexibility to decide your risk taking profile. Here's a list of
the investment plans you can benefit from: Term Plan Term
Insurance helps the customers in safeguarding their families from
financial worries that arise due to unfortunate circumstances. Term
plans are pure risk cover plans with or without maturity benefits.
These pure risk plans cover your life at a nominal costTerm plans also
let you avail the benefit to cover your outstanding debts like
mortgage, home loan etc. In case of something happens to you, the
financial burden is borne by the insurance company and not your loved
ones.Term Plan offers you the following benefits: • High insurance
Cover at lower costs • Financial security against loans and mortgages,
• Single premium payment option available • Available with host of
Additional rider benefits Health Insurance Endowment Plans
Whole Life Insurance Group Insurance Retirement Plans
Children's Plans Wealth Plans

Benefits of ULIPs

Benefits of ULIPs
Unit Linked Plans offer unique opportunity to combine protection with
investments. Some special features of Unit Linked Life Insurance
Policies (ULIPs) are: •
Provides flexibility in investmentsULIPs offer a complete selection of
high, medium and low risk investment options under the same policy.
You can choose an appropriate policy according to your risk taking
appetite, coupled with the opportunity to switch between fund options
without any additional expense. ULIPs provide the flexibility to
choose the sum assured and investment ratio in the annual targeted
premium. It also offers the flexibility of one time increase in
investment portfolio, through top-ups to avail investment opportunity
offered by external environment or own income flows.
• Transparency
The charge structure, value of investment and expected IRR based on 6%
and 10% rate of returns, for the complete tenure of the policy are
shared with you before you buy a product. Similarly, the annual
account statement, quarterly investment portfolio and daily NAV
reporting, ensures that you are aware of the status of your investment
portfolio at all times. Most companies publish latest NAVs on their
respective websites.
• Liquidity
To cope with unforeseen circumstances, ULIPs offer the benefit of
partial withdrawal; wherein after 3 years you can withdraw funds from
our Unit Linked account, retaining only the stipulated minimum amount.
• Disciplined and regular savings
ULIPs help you inculcate a regular saving habit. Also, the average
unit costs tend to be lower than one time investment.
• Multiple benefits bundled in one product
ULIP is an outstanding solution for risk cover, long term investments
with the benefit of various investment opportunities, coupled with tax
benefits.
• Spread of risk
ULIPS are ideal for those investors who wish to avail the benefit of
market linked growth without actually participating in the stock

How to adopt to spicy food:-beginer guide

Adapt to Spicy Food Spicy food is enjoyed the world over. In some
countries, like Indonesia, spicy foods are even fed to newborns and
only the dying are kept from enjoying everything the spices have to
offer. Eating spicy foods will open up a whole new world of culinary
delights to those who dare to venture. Steps Tips and Warnings
1 Start with foods that are only slightly more spicy than what you
are currently used to. As you eat these foods, note which spices you
like, which you don't, and whether they cause any side effects.
2 Once you grow comfortable with the new level of spice in your food,
move up to the next. As you move up, go with those spices, whether for
heat or flavor, that you prefer.
3 Continue increasing the amount of spice in your food as you adjust
to each new level. However, give yourself time to adapt to each
increase in flavor and heat. As you do so, you will open up a wide
range of food options you might never have considered trying.